South America is calling your name ... particularly after you've given 20+ years to your respective occupation, and you're good and tired and ready to enjoy your retirement.

You've earned it, and when you choose retirement destination, do so with confidence and excitement.

You may or may not know this, but more and more North Americans are retiring abroad, wanting their golden years to be spent amid beautiful colonial architecture, coastal palm trees and incredible ecological sites. But sorting through the myriad of attractive options can be difficult -- nay, daunting. And one must consider cost of living, health care, climate and other factors that impact quality of life.

For these reasons, International Living constructed an Annual Global Retirement Index, which can be consulted in order to gain real-world insights about the environment, local economy and amenities available in 25 different countries featured on their comprehensive "best bang-for-your buck" retirement destination list.

Whether you're into cultural hotspots, exotic dwellings mountainside housing or quiet settings, there are a number of top retirement havens waiting for occupants just like you, based on your personal preference, budgets, needs and desires.

Ecuador triumphed, leading the pack as the No. 1 retirement haven in the world, followed by Panama, Mexico, Malaysia, Costa Rica and Spain -- with numerous Latin American nations appearing on the list.

The vibrant capital city of Quito, the old-world town of Cotachi and the seaside city of Salinas are examples of the diverse terrain and atmospheric variety. The nation offers some of the best real estate prices; and discounts are plentiful for senior citizens, who receive price cuts on flights originating from Ecuador, as well as 50 percent off movies and sporting events, public transportation and utilities. They also receive a free landline with the purchase of property.

The area's low cost of living means $10 doctor visits, $3 meals when dining out, 25 cents for public transit and $1,400 monthly costs for couples, which includes rent. Expats can also enjoy diverse attractions and entertainment, such as rock-climbing, biking, fishing and zip-lining. And the massive Pacific Ocean, the Amazon and the peaks of the Andes are never too far away.

Colombia earned a high rank because it also has a comfortable cost of living ($1,200 monthly for couple), and it's recognized for its 18 medical institutions, which are among the top 45 in Latin America, according to the World Health Organization. In addition, their health care beats out health care in the U.S. and Canada. Deemed the second-most bio-diverse nation in the world, the country offers beaches, volcanoes, jungles and deserts.

Panama offers the best retirement benefits and entertainment and amenities of all the destinations. And their "Pensionado visa" is available to anyone with a lifetime pension of more that $1,000 a month. The visa grants discounts on airfare, medical services, restaurants, entertainment, electricity and phone bills.

Mexico's paradise-like comfort; Costa Rico's home-like familiarity; Portugal's affordability; Brazil's nightlife and Spain's 100-mile stretch along its southern Mediterranean coast prove Latin American is the ideal place to retire.

Oh, and did we mention the phenomenal weather, quality infrastructure and the beautiful picturesque beaches? It's enough to make you want to retire right now.

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